This week has been an important week for Ontario and the new Internet gambling market. On October 31, 2022, the transition period for iGaming operators to be legalized in the state was concluded. 슬롯머신 Game brands and websites that are not yet online in the regulatory market can escape the glory of the Ontario Alcohol and Game Commission.
The market is regulated by AGCO and its subsidiary iGaming Ontario, and has so far been criticized for tolerating grey market operations within months of its regulated launch. However, regulators decided to take some action and set the end of October 31, 2022 as the last chance for operators to be regulated.
In early October, when AGCO set the end of the month as a deadline, regulators warned that there could be consequences for operators continuing to operate in the gray market. The Commission said there could be financial disadvantages for such operators, and that they could eventually lose the opportunity to obtain permits in the provinces.
The regulator claimed in a statement that it would take appropriate regulatory action against registered operators who did not comply with the new standards on October 31, 2022. The Commission explained that registered operators that continue to operate in unregulated markets should stop operating illegally.
Several iGaming names have been switched since the transition deadline was announced. These include Pinnacle and just recently Bet99. Still, it remains to be seen whether AGCO can do anything if the operator simply refuses to participate in the provincial-run sector. Regulators have yet to provide details of such scenarios.
But you should know that there are already game operators who don’t want to ignore AGCO’s new standards. It’s Betrigal, and the company said it would stop accepting bets from anyone in Ontario while it finalises all regulatory details and waits to be part of the “white” market. The company is not registered yet, which means it may take some time.
In October, AGCO released its second-quarter financial report on the Internet gambling and sports betting market. From July 1 to September 30, 2022, the local market generated a total betting handle of C$6.04 billion and game revenue of C$267 million or more. This does not include OLG’s PROLINE+ brand, which operates separately.
During the quarter, the market had a total of 24 operators and 42 gaming websites that were betting online in the province. According to the report, the number of active user accounts in the quarter was 628,000, a significant improvement over the first quarter figures. In addition, the province reported that users spent an average of C$142 per month per customer.